The diamond business is yet bright and has a good future in the coming days

Hitesh Patel, Managing Director of Dharmanandan Diamonds Pvt. Ltd., joined the family business in 1997 to help his father Laljibhai Patel, the founder of Dharmanandan Diamonds Pvt. Ltd. Egged on by its success, Hitesh set up the overseas presence of...

19 august 2019

The talk around LGDs is all hype

As a teenager, Luca Luterbacher began to design and manufacture single pieces and individual items for wealthy private family friends from Switzerland and Lichtenstein. In 2017, he finally invested in his own luxury trademark "Luterbacher."...

12 august 2019

Correct adjustment of advertising is the major challenge

At the recent Amberforum held in the Baltic city of Svetlogorsk, Andrey Yanchevsky, Head of the trade representation of the LA VIVION jewelery company shared his opinion with the correspondent of Rough&Polished on the state and prospects of the jewellery...

05 august 2019

Small-scale diamond mining is the future in Botswana – Leon Daniels

Pangolin Diamonds, which is currently the most active diamond exploration company in Botswana, has called upon authorities in the southern African country to include diamonds into the minerals permit for small scale mining operations. Pangolin chief...

29 july 2019

“There has been a strict policy in Israel against LGDs; have been forbidden on IDE trading floor for years.”: Aviel Elia, Managing Director- IDI

Aviel Elia, an attorney by profession, has served as Legal Adviser and Company Secretary of IDI since 2013. As a key member of the Israel Diamond Institute (IDI) management team, he has been involved in developing company strategy and negotiating...

22 july 2019

Hong Kong luxury retail sales hit due to prolonged unrest

07 august 2019
The volatile anti-government protests in Hong Kong are piling on numerous challenges to the city's high-end retailers. Luxury sales in Hong Kong fell 17.1% y-o-y in June, according to provisional figures released by the Hong Kong government.
Data from the Hong Kong Census and Statistics Department showed that retail sales in June reached an estimated HK$35.2 billion (around US$4.5 billion). Sales plummeted 2.6 percent in the first half of the year.
Figures also showed that sales of jewelry, watches, clocks and valuable gifts at retail outlets in Hong Kong reached HK$5.75 bln, down from HK$6.94 bln in June 2018.
Hong Kong's exports fell 2.1% y-o-y  in the three months to May 31, while shipments to the U.S. dropped by 35.4% during the same period. Furthermore, Hong Kong on July 31 reported 0.3% contraction in GDP for the second quarter of 2019 from the first quarter.
The protests also comes at a time when Hong Kong's position as Asia's luxury retail hub is coming under increasing pressure, particularly from mainland China.There are also signs that the slowdown in the Chinese economy is causing some consumers to adjust their buying patterns.

Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough & Polished